Only Treasury auction securities or new-issue CDs with a term to maturity of five years or less are eligible for this program. Treasury inflation-protected securities (TIPs), inflation-protected CDs (CDIPs or IFCDs), callable CDs, floating and adjustable rate CDs, and CD purchases exceeding $250,000 are all ineligible, as are all other fixed income instruments and all secondary Treasury or CD securities. Auto Roll is not available for CD purchases in retirement accounts.
Auto Roll benefits
This program tracks the maturity dates of Treasuries and CDs and automatically keeps you invested according to your chosen asset allocation by purchasing similar securities when initial investments mature. While it helps you stay invested in bonds or CDs based on your criteria, you still need to pay attention to the program alerts so you can take appropriate action if necessary.
You have the ability to withdraw from the program at any time with no penalties, giving you complete control. This Auto Roll feature will continue to purchase a new security at the maturity of the older security unless:
- You cancel the Auto Roll feature for that security.
- You sell part of, or add to, the existing Auto Roll position.
- There is a material change to the Treasury auction schedule.
- Fidelity is unable to find a replacement new-issue CD that meets the initial size, duration, and coupon frequency criteria of the maturing security.
How to enroll
The Auto Roll Program allows you to sign up all or some of your eligible Fidelity accounts using a simple one-time process. After you agree to the Auto Roll Program Authorization and subscribe to the Fidelity Alerts Service on future eligible fixed income transactions, select Yes on the Auto Roll option displayed on the order entry screen to take advantage of this convenient feature. The subscription to Fidelity Alerts is a mandatory requirement of the Auto Roll Program.
Note: Once you enroll in the program and subscribe to the Fidelity Alerts Service, you remain enrolled until you opt out or until Fidelity cannot find appropriate replacement securities.